Hempacco Co., Inc.: debt financing — Hempacco draws additional $277,778 convertible note tranche from FirstFire; net $227,500 after fees

Hempacco Co., Inc.

Sold convertible note ($277,777.78 principal) plus warrants for 120,370 shares and 27,777 commitment shares for $250,000 purchase price.
Net proceeds to company: $227,500 after $2,500 legal fee and $20,000 broker commissions.
Note bears 10% guaranteed interest, matures in 12 months, convertible at $1.50/share subject to adjustments.
Proceeds must first fulfill purchase order No. 213420187, then for business development and operating capital.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Hempacco Co., Inc. incurred convertible notes of $277,777.78 with FirstFire Global Opportunities Fund, LLC at 10% per annum maturing 12 months following the issue date.

Instrument: convertible notes
Principal: $277,777.78
Counterparty: FirstFire Global Opportunities Fund, LLC
Rate: 10% per annum
Maturity: 12 months following the issue date
Event: incurrence

Exact text from the filing

the Company sold to FirstFire Global Opportunities Fund, LLC, a Delaware limited liability company (“ FirstFire ”), (i) a convertible promissory note in the principal amount of $277,777.78, (ii) warrants to purchase 120,370 shares of Common Stock, and (iii) 27,777 shares of Common Stock, for an aggregate purchase price of $250,000, and the Company granted FirstFire

View on SEC.gov

Browse all debt financings →

Source: SEC EDGAR

accession 0001477932-23-009263

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.